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Winterkorn steps down as CEO of Porsche SE

Martin Winterkorn's departure from all things related to the Volkswagen Group is nearing completion. After having stepped down as chairman of the automaker's executive board nearly a month ago in the wake of the automaker's diesel emissions scandal, he's now leaving the direction of the company's principal shareholder, as well. After VW acquired Porsche (the automaker) several years ago, and in turn was principally acquired by Porsche (the holding company), the latter installed Winterkorn as its chief executive officer in order to cement ties between the parties. He's served as chairman of the executive board (German-speak for CEO) at Porsche Automobil Holding SE ever since, but he's now officially resigned from that position. In his place, the holding company has named Hans Dieter Potsch as its new chief exec. Potsch was also recently named as chairman of the supervisory board of the Volkswagen Group, having served until now as CFO of both VW AG and of Porsche SE. Winterkorn's principal successor at the helm of daily operations at VW is Matthias Muller, formerly CEO of the Porsche auto brand and now CEO of the entire VW group. The development brings Winterkorn's exit closer to completion. However the departing executive still, for the time being, remains at the head of group divisions Audi, Scania, and Truck & Bus GmbH. We don't expect it will be much longer, however, before he formally resigns from those chairmanships as well. Related Video: Porsche SE: Prof. Dr. Martin Winterkorn ceases function as member and chairman of the executive board Successor as chairman will be chief financial officer Hans Dieter Potsch Stuttgart, 17. October 2015. Porsche Automobil Holding SE, Stuttgart ("Porsche SE"), reached an agreement with Prof. Dr. Martin Winterkorn that he ceases his function as member and chairman of the executive board of Porsche SE by the end of October 31, 2015. Dr. Wolfgang Porsche, chairman of the supervisory board of Porsche SE, thanked Prof. Dr. Winterkorn for the successful work in previous years: "Prof. Dr. Winterkorn assumed office as chairman of the executive board of Porsche SE in a difficult situation. He played a significant role in transforming our company into a highly professional investment holding. I would like to express my gratitude on behalf of the entire supervisory board." Hans Dieter Potsch, chief financial officer of Porsche SE, was appointed by the supervisory board to succeed Prof. Dr.

Volkswagen Group previews its wares on eve of Geneva show

The Volkswagen Group is comprised of 11 brands producing 240 vehicles across 49 factories throughout the world. So the best way to show off the range of the VW family is to cram a few thousand journalists and VIPs into a massive makeshift stand to outline the Group's goals, what's in the pipeline and what you'll be able to buy later this year.
To that end, VW pulled out all the stops on the eve of the 2012 Geneva Motor Show, bringing along 10 vehicles from across the range. We'll be delving into the details of each over the next two days of show coverage, but before that happens, you can read all about what we saw tonight from the cheap seats after the break.

Recharge Wrap-up: Porsche 918 Spyder named Robb Report Car of the Year, cheap E85 in MN

Robb Report has named the Porsche 918 Spyder as its 2015 Car of the Year. The luxury lifestyle publication chose the powerful hybrid for being "the rarest, fastest, quickest, and most groundbreaking production Porsche ever," says Robb Report automotive consultant Robert Ross. About 140 judges were involved in the decision, which was announced at the North American International Auto Show in Detroit this week. Read more at Robb Report. Samsung SDI brought four new batteries to the Detroit Auto Show. One is a 120-Ah battery with a range of over 300 kilometers (186 miles). A second is interoperable between plug-in hybrid and all-electric vehicles. A third is a compact hybrid battery that offers smaller packaging without losing capacity. The fourth is a low-voltage system meant to replace or work alongside lead-acid batteries and improve fuel economy. Read more at The Korea Economic Daily, or in the press release below. A relationship between a Minnesota ethanol producer and retailers means cheap E85 for customers. The DENCO II ethanol plant began blending its own E85 fuel in 2011, and now sells directly to 45 gas stations. DENCO II sets the pricing for the fuel, and has been running a promotion for certain retailers to sell E85 for about a dollar cheaper than E10 gasoline. That promotion includes a Cenex station in Alexandria, MN selling E85 for just 85 cents per gallon. The result has been success for both the producer and gas stations, with customers having more cash to spend on retail goods when they go inside to warm up. Read more at Ethanol Producer Magazine. Samsung SDI, targeting the North American market with automotive batteries and high-tech materials ? Display batteries and materials for automobiles at NAIAS from January 12, 2015 ? Introduce high capacity battery cells providing 300km driving distance per charge ? Present Non-Painting Metallic Material, the winner of SPE Automotive Innovation Award ? Samsung SDI, the world-leading material and energy solution provider introduced automotive batteries and engineering plastic materials targeting the North American market at the Detroit auto show. Samsung SDI showed off automotive batteries for electric vehicles as well as advanced materials for the interiors and exteriors of conventional vehicles at the 2015 North American International Auto Show.